In today's "Off The Charts" Bloomberg's Scarlet Fu reports that John Arnold, the hedge-fund manager who became a billionaire betting on natural gas prices, said he’s closing his Centaurus Energy Master Fund “to pursue other interests.” Arnold shutters Centaurus as natural gas prices hover near 10-year lows, stifling returns. It’s the second major energy hedge fund to close in the last four weeks. She speaks on Bloomberg Television's "Inside Track." (Source: Bloomberg)
Contract negotiations covering workers at 14 U.S. East Coast and Gulf Coast ports will resume the week of Sept. 17 with federal mediators in an attempt to prevent a walkout that would disrupt holiday shipping.
Centaurus Energy Master Fund LP, a Houston-based energy hedge fund run by former Enron Corp. trader John Arnold , was fined $15,000 by New York Mercantile Exchange for violating position limits in natural gas.
In September 2006, Greenwich, Connecticut-based hedge fund Amaranth Advisors LLC collapsed after losing more than $6 billion in the natural-gas futures market. In “Hedge Hogs,” Barbara T. Dreyfuss tells the story of the math-whiz traders whose risky dance with deregulation led to the collapse.